German specialty chemicals maker Lanxess (LXSG.DE) said on Monday it expected its fourth-quarter core profit to come in above market expectations.
The Cologne-based company expects its quarterly earnings before interest, taxes, depreciation and amortisation (EBITDA) pre-exceptionals to be around 159 million euros ($164 million), exceeding market analysts' forecast of 130 million according to a Vara consensus.
The chemicals group also expects EBITDA, adjusted for special items, to amount to around 614 million euros for 2024, which is 20% above last year's level and at the upper end of its guidance range of 10-20% growth.
"The fourth quarter was positively influenced by a stronger than expected December, in particular due to customers’ pre-buying," the company said in a statement, but flagged the underlying macroeconomic environment has not improved.
Shares in the company were up 4.1% as of 1241 GMT.
Lanxess will release its 2024 fiscal year results on March 20, 2025.
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